Question

The entrance ticket at the Minerva theatre in Mumbai is worth Rs 250.when the price big the ticket is lowered,the sale of the ticket increased by 50percent, and the collections recorded a decrease of 17.5 percent. Find the deduction in the ticket price

Answer 1

Sold tickets = x
sales = 250x
Sales of tickets increased by 50%
now tickets sold after price lowered = 1.5x
new price 250 - P (after reducing the price)
Total new = (250 - P) × 1.5x
collection recorded a decrease of 17.5% = 35/2%
{250x - (250 - P) × 1.5x}/250x × 100 = 35/2
2{250 - 250 ×1.5 + 1.5P} × 100 = 250 × 35
500 - 750 + 3P = 250 × 35/100
- 250+ 3P = 87.5
3P = 87.5 + 250
3P = 337.5
P = 337.5/3
P =112.5 Rs. (Reduction in the price of ticket)